Condor Capital Management Acquires 74,532 Shares of KKR Real Estate Finance Trust $KREF

Condor Capital Management boosted its holdings in shares of KKR Real Estate Finance Trust (NYSE:KREF) by 27.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 344,625 shares of the company’s stock after buying an additional 74,532 shares during the quarter. Condor Capital Management’s holdings in KKR Real Estate Finance Trust were worth $3,022,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in KKR Real Estate Finance Trust by 4.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 666,973 shares of the company’s stock worth $7,203,000 after acquiring an additional 29,112 shares during the period. Wellington Management Group LLP increased its stake in shares of KKR Real Estate Finance Trust by 5.9% in the 1st quarter. Wellington Management Group LLP now owns 560,847 shares of the company’s stock worth $6,057,000 after purchasing an additional 31,097 shares in the last quarter. Millennium Management LLC raised its holdings in KKR Real Estate Finance Trust by 25.9% in the 1st quarter. Millennium Management LLC now owns 353,216 shares of the company’s stock worth $3,815,000 after purchasing an additional 72,566 shares during the period. Voya Investment Management LLC lifted its position in KKR Real Estate Finance Trust by 25.4% during the first quarter. Voya Investment Management LLC now owns 327,746 shares of the company’s stock valued at $3,540,000 after purchasing an additional 66,344 shares in the last quarter. Finally, Rhino Investment Partners Inc grew its holdings in KKR Real Estate Finance Trust by 207.7% during the first quarter. Rhino Investment Partners Inc now owns 296,668 shares of the company’s stock valued at $3,204,000 after purchasing an additional 200,244 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods decreased their price objective on KKR Real Estate Finance Trust from $9.50 to $8.75 and set a “market perform” rating on the stock in a research note on Thursday, October 23rd. Wells Fargo & Company decreased their target price on shares of KKR Real Estate Finance Trust from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Zacks Research raised shares of KKR Real Estate Finance Trust from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Wall Street Zen raised shares of KKR Real Estate Finance Trust from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of KKR Real Estate Finance Trust in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, KKR Real Estate Finance Trust currently has an average rating of “Hold” and an average target price of $9.94.

KKR Real Estate Finance Trust Stock Down 0.1%

NYSE KREF opened at $8.29 on Friday. KKR Real Estate Finance Trust has a 12 month low of $7.78 and a 12 month high of $11.85. The company has a current ratio of 423.43, a quick ratio of 423.43 and a debt-to-equity ratio of 3.63. The stock has a market cap of $542.58 million, a PE ratio of -23.67 and a beta of 0.90. The stock’s 50 day moving average is $8.82 and its 200 day moving average is $9.07.

KKR Real Estate Finance Trust (NYSE:KREF) last announced its quarterly earnings data on Tuesday, October 21st. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.04). KKR Real Estate Finance Trust had a negative net margin of 0.12% and a negative return on equity of 0.60%. The company had revenue of $31.41 million for the quarter, compared to analysts’ expectations of $29.90 million. Research analysts predict that KKR Real Estate Finance Trust will post 1.05 EPS for the current fiscal year.

KKR Real Estate Finance Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 12.1%. The ex-dividend date was Tuesday, September 30th. KKR Real Estate Finance Trust’s payout ratio is currently -285.71%.

Insider Buying and Selling at KKR Real Estate Finance Trust

In other news, COO W Patrick Mattson acquired 13,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was purchased at an average price of $7.91 per share, for a total transaction of $102,830.00. Following the completion of the transaction, the chief operating officer directly owned 386,787 shares in the company, valued at approximately $3,059,485.17. This trade represents a 3.48% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew A. Salem bought 32,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The stock was purchased at an average price of $7.84 per share, for a total transaction of $250,880.00. Following the completion of the transaction, the chief executive officer directly owned 561,825 shares of the company’s stock, valued at $4,404,708. This represents a 6.04% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 55,000 shares of company stock worth $431,710. Insiders own 1.90% of the company’s stock.

About KKR Real Estate Finance Trust

KKR Real Estate Finance Trust Inc, a mortgage real estate investment trust, focuses primarily on originating and acquiring transitional senior loans secured by commercial real estate (CRE) assets. It engages in the origination and purchase of credit investments related to CRE, including leveraged and unleveraged commercial real estate loans.